What is MineGate MineGate claims to be a bitcoin cloud mining company based in Peterborough, Canada. According to the ‘company’, it has been mining bitcoins as a private company since 2012. For some reason, the company decided to open up its cloud mining operations to public investors. Records show the company's websites was registered on 09 September 2016, therefore it has been open to investors for 4 months now. The company claims to own 3 data centres across the globe. Investors with MineGate can expect to earn back their seed money within 3 to 4 months, thereafter start earning pure profit. 2. Is MineGate a Legit? Let me not keep you in suspense and state right away that Minegate does not look legit at all. A number of redflags which make MineGate look …show more content…
Thereafter, they will be generating profits for themselves. Add Media Anyone with bitcoin mining experience will tell you that such high returns are possible for bitcoin cloud mining investors. Therefore, MineGate return on investment looks too good to be true. 3. Conclusion In light of the information presented above, I have to conclude that MineGate is not a real company, it is a fake mining website, and therefore a scam. If you are a newbie to bitcoin mining and don’t know how to identify scams, simply check if the website is not listed in badbitcoin.org. If it is listed in badbitcoin.org, then it is definitely a scam. But be sure not to fall for Genesis Mining, which the site promote as legitimate bitcoin mining company. Bitcoin Scam Test is another useful tool to use for checking if a bitcoin mining site is a scam or not. As a rule of thumb, investing in bitcoin mining is a waste of money as almost all bitcoin mining companies are either scams, or are not profitable at all. You'll be better off buying bitcoins at an exchange and keeping them long